Corn futures are trading lower at midday. Some profit-taking is being felt this morning following recent gains. Spillover weakness is coming from outside markets such as crude oil. Funds remain heavily long, leaving the market vulnerable to some weakness from long liquidation. March is 4 1/4 cents lower at $3.86 1/4.

Soybean futures are lower at midession. Weakness in corn and technical selling are negative market factors. Generally favorable planting and growing conditions in South America are also giving the bears some ammunition. January is 3 1/4 cents lower at $6.82 1/4 and March is 3 3/4 cents lower at $6.96 1/2.



Wheat futures are trading lower at midday. Profit-taking from the firm close on Thursday and weakness in corn is weighing on the market. Heavy deliveries against the CBOT December contract have also prompted some weakness. CBOT Mar is 3 cents lower at $5.18 1/2, KCBT Mar is 6 1/4 cents lower at $5.44, and MGE Mar is 5 cents lower at $5.25.



Cattle futures are lower at midsession. Only light cash trade has been noted this week, but prices were $2-$3 lower. The weak tone in the cash market and declining boxed beef prices are limiting buying interest as packer margins remain well in the red. February is 5 cents lower at $89.05 and April is 5 cents higher at $90.35.



Lean hog futures are trading lower at midday. Futures are being pressured by ideas that the cash market will be lower next week as the weather improves and marketings increase. Losses are being limited by packer margins holding in positive territory and the bounce in pork cutouts on Thursday. February is 23 cents lower at $64.95 and April is 35 cents lower at $67.95.